XRP News Today: XRP Price Falls Below $3.00 as Death Cross and Whale Selloff Signal Deeper Correction

XRP is facing mounting bearish pressure as multiple indicators signal the potential for a deeper correction. The asset, which reached a high of over $3.60 in late July, has since retreated to around $2.90, sparking concern among traders. Analyst Ali Martinez highlighted that the current pullback may not be nearing its end, with several key technical and on-chain signals flashing red [1].

One of the most notable signals is the TD Sequential indicator, which has shown a sell signal on the 3-day chart. This tool is widely used to detect potential trend exhaustion, and its activation at a recent peak suggests the market is vulnerable to further declines [1]. The pattern has historically preceded short-term corrections when prices have been overextended.

On-chain data also points to weak support levels. While XRP initially held the $3.00 mark, deeper accumulation clusters suggest the next line of defense is near $2.80. Martinez noted that if this level fails, the next key support zone lies between $2.40 and $2.48, where large historical buying interest has been recorded. A breakdown below $2.80 could trigger a significant drop toward this range [1].

Adding to the bearish sentiment is the recent activity of large token holders, or “whales,” who have offloaded over 720 million XRP tokens in the last 24 hours [1]. Such selling from major holders often indicates a lack of short-term confidence or a shift in strategy, potentially intensifying downward pressure.

Perhaps the most alarming signal comes from the MVRV ratio, which recently formed a so-called “death cross.” This occurs when the short-term MVRV crosses below the long-term MVRV, signaling that holders are sitting on fewer unrealized profits and may be more inclined to sell. According to Martinez, this pattern has historically preceded multi-week pullbacks and reinforces the case for a deeper correction [1].

With XRP trading below $3.00, traders are closely watching key levels. The immediate support is at $2.80, while the $3.00 mark remains critical for any recovery attempt. Should the current bearish momentum continue, XRP could test the $2.40–$2.48 zone before any meaningful rebound can occur [1].

While some analysts have floated bullish price targets, such as a potential rise to $48.90, these forecasts remain speculative and unverified by current market conditions. There is no indication that such a reversal is imminent, and the prevailing technical signals suggest continued downward pressure in the near term [4].

Source:

[1] XRP Price Faces Deeper Correction as Key Indicators Flash Bearish Signals (https://captainaltcoin.com/xrp-price-faces-deeper-correction-as-key-indicators-flash-bearish-signals/)

[2] XRP (Ripple) Price Under Pressure as Death Cross and Whale Selloff Signal Trouble (https://thetradable.com/crypto/xrp-ripple-price-under-pressure-as-death-cross-and-whale-selloff-signal-trouble-0--v)

[3] XRP Slides Post-Rally: Is the MVRV Death Cross a Warning? (https://thecurrencyanalytics.com/altcoins/xrp-faces-pressure-after-july-rally-is-the-mvrv-death-cross-signaling-more-losses-188806)

[4] XRP Price Prediction: XRP Structure Signals a Massive $48.90 Surge (https://bravenewcoin.com/insights/xrp-price-prediction-xrp-structure-signals-a-massive-48-90-surge-will-august-initiate-the-climb)